Cardinal Health Inc (NYSE:CAH) – Investment analysts at William Blair dropped their FY2021 earnings estimates for shares of Cardinal Health in a research note issued to investors on Friday. William Blair analyst J. Kreger now anticipates that the company will post earnings per share of $7.60 for the year, down from their previous forecast of $7.79.
Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, February 8th. The company reported $1.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.17. The firm had revenue of $35.19 billion during the quarter, compared to analysts’ expectations of $34.63 billion. Cardinal Health had a return on equity of 24.81% and a net margin of 1.37%. Cardinal Health’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.34 earnings per share.
Cardinal Health (NYSE CAH) opened at $66.72 on Monday. The stock has a market capitalization of $20,997.25, a price-to-earnings ratio of 11.60, a price-to-earnings-growth ratio of 1.45 and a beta of 0.96. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.09 and a quick ratio of 0.57. Cardinal Health has a 52-week low of $54.66 and a 52-week high of $84.88.
The company also recently declared a quarterly dividend, which will be paid on Sunday, April 15th. Stockholders of record on Monday, April 2nd will be given a $0.4624 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Thursday, March 29th. Cardinal Health’s dividend payout ratio is currently 32.17%.
Cardinal Health announced that its board has approved a share repurchase program on Thursday, February 8th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.
In related news, CEO Michael C. Kaufmann sold 18,586 shares of Cardinal Health stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $73.90, for a total transaction of $1,373,505.40. Following the completion of the sale, the chief executive officer now owns 211,849 shares in the company, valued at approximately $15,655,641.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.97% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Farmers National Bank increased its position in Cardinal Health by 1.9% during the 2nd quarter. Farmers National Bank now owns 4,902 shares of the company’s stock worth $382,000 after purchasing an additional 90 shares in the last quarter. Advisory Services Network LLC increased its position in Cardinal Health by 18.4% during the 2nd quarter. Advisory Services Network LLC now owns 1,739 shares of the company’s stock worth $136,000 after purchasing an additional 270 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in Cardinal Health by 2.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 15,232 shares of the company’s stock worth $1,185,000 after purchasing an additional 345 shares in the last quarter. Colony Group LLC increased its position in Cardinal Health by 2.0% during the 2nd quarter. Colony Group LLC now owns 19,571 shares of the company’s stock worth $1,525,000 after purchasing an additional 388 shares in the last quarter. Finally, Scotia Capital Inc. increased its position in Cardinal Health by 12.5% during the 2nd quarter. Scotia Capital Inc. now owns 4,108 shares of the company’s stock worth $320,000 after purchasing an additional 456 shares in the last quarter. Hedge funds and other institutional investors own 87.55% of the company’s stock.
About Cardinal Health
Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.
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